Market Organized: market analysis, made clear
AI spending concerns shake Wall Street as the Fed holds rates and oil prices climb
The Nasdaq fell 2.9% Friday as Intel, Amazon and Alphabet results revived worries about AI costs, leaving the S&P 500 with a third straight weekly loss. The Fed held rates in a split vote, Brent settled at $117.64, and next week brings the midterms and the October jobs report.
Daily closes, Oct. 26–30, 2026. Source: AP.
Reporting cutoff: U.S. market close, Friday, October 30, 2026. This is a dated snapshot, not a live market update.
Three forces shaping the week
AI costs hit Big Tech
Intel fell about 29% Friday on weak guidance, and Amazon and Alphabet showed negative free cash flow from heavy AI spending, pushing the Nasdaq down 2% for the week.
The Fed holds, but it’s split
Rates stayed at 3.75%–4% in a 10–2 vote, with two officials wanting a hike as PCE inflation reached 3.6% and GDP grew 3.4%.
Oil keeps climbing
Brent settled at $117.64 Friday and gained about 13.6% in October on Middle East supply worries.
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